Finance Ministry places bonds for AZN 15 million


September 26, Fineko/ Yesterday, the Ministry of Finance of Azerbaijan sold state short-term bonds through the Baku Stock Exchange.

According to the BSE, on 25 September the bond issue with ISIN code AZ0104010688 for AZN 15 million and circulation term of 364 days was placed.

The 12 investors received 17 orders for totally AZN 44.435 million. The orders were submitted in the price range from AZN 88.9666 (yield: 12.4700%) to AZN 93.9281 (6.5000%) for the bond.

Under Finance Ministry’s decision, the cut-off price is set at the level of AZN 92.6558 (yield: 7.9699%) and weighted average price is set at AZN 93.5178 (6.9697%).

As a result, the bonds were placed at AZN 15 million. The maturity date of the bonds is 24 September 2019.